Newbies are welcome! Join us here to discuss anything related to getting started with your first eBiz - or even a new eBiz model. From ideas to implementation. If you've got questions, ask them here! -- NOTE: topics in this section may get moved to more appropriate categories at some point. If you are unsure where to post your question, feel free to post it here!

You have to first sit down and think about the concrete costs and later the potential costs.

Concrete costs applies to investments you HAVE to make no matter what. For instance, to really start on a good online business you need a website. I don't care how many people say they're making money without one, but if you want to have an online presence, having a website is your first priority.

That means purchasing a domain name and getting it hosted. Paying the hosting fees is concrete, because it will not change whether you make money or not. After that, all else is potential. Whether it is softwares, services, ebooks and so on.

The next thing is to have a product. It doesn't have to be yours, but you have to have something to offer to the public, something to conjure their interest. When you're able to do that, you'll be on your way to success.

Having a website is important because people can seek you out and find out more info from you without having to ask you over the phone over and over again. However, the most important reason to have a website is to create leads. That's it. When you have a lead to follow-up on, you have a better chance of making a sale.

That's my quick tip. Perhaps someone else can go into further detail on this topic. However, that does sound like a pretty good project to start on. I'll have to do that later - sounds like fun.

With all due respect...would you ask the same question if you were opening a "brick and mortar" store? Of course not! You may be able to start an online business with $100, but it is not going to go anywhere. You have to be willing to invest what it takes to be successful.

You need to treat your online store like a brick and mortar store for ultimate success.

You make an interesting point, Jim... but having done both (online business and offline business), I have to say there is a huge difference. Starting an internet-based business is hard to compare to opening a physical store or shop. A person could invest more time than money, and still end up with a successful business. It's all relative of course, to what type of business, etc. There are a lot of variables.

But back to the question - a lot of people have started out for under 100 bucks and continued to build on that (investing along the way, usually both time and money).

Just a domain name and hosting account is enough to get some people rolling. But on the flip side, you could invest hundreds of hours and dollars and end up with nothing if you arent making goals and taking action...

Yes, it is possible... people do it all the time. I agree with Jim, though, that you do get what you pay for and there is something to be said about investing in your business. You might be able to start with $100 ... but somewhere along the line, you had better expect to invest in it or you are really going nowhere. Seriously - even people like Lynn, and myself, who are consummate "dot it yourselfers" and capable of starting at $100 would have to admit we've sunk some good chunk of money into business expenses (thank god or the IRS would have all my money).

But, the flip side is, the extremely low cost of entry is the reason the web is completely littered with failed web sites and CRAP. And that's just the truth. I would say the majority of people don't have what it takes - but because they can try without a lot of financial pain, they do, and then ...

webturtle wrote:But, the flip side is, the extremely low cost of entry is the reason the web is completely littered with failed web sites and CRAP. And that's just the truth. I would say the majority of people don't have what it takes - but because they can try without a lot of financial pain, they do, and then ...

That's such a good point, and one I agree with. There seems to be a sense of commitment and motivation for the person that invests a good chunk of money into something, versus someone who doesnt. That isnt always the case, of course, as I've seen people start with practically nothing and turn it into something great. But for the most part, it really does have an impact on how seriously we take the project at hand.

* Company is free to join
* Bought two months worth of the ACt energy drink - $70 ($60 if in US)
* Promoted for free and with some fairly cheap ezine advertising and solo ads and few offline ads - budget up to you really but your spare $30 would get you started and give you a good foundation to build a team and business.

Or you could invest $8 in a domain name, $10 on hosting (I have very good hosting for just $10/year) and set up a website to promote your business but this is not really needed as you get all this from company.

Of course the blood, sweat and tears that go into building your business are another matter entirely.

kingos wrote:I am doing a research on how possible it is to start biz online with just $100. I want to know if it is possible and profitable.If it is, what steps should be taken to achieve it?

I'd say one of the easiest ways to get started (right now), and for under $100, would be to set up a hosting account, install Wordpress, and start blogging.

This requires very little know-how or HTML knowledge as Wordpress has a built-in editor that makes publishing super easy. There are a lot of neat templates, plug-ins and help files that are free around the 'net too... so you wont be stuck for things to work with.

Two hosts that I am using for blogs that make the set-up & install super easy are HostGator and Globat.

Another option is to sign up (free) with a good affiliate network like NetShops. Again, all you need to pay for is a hosting account, and possibly a website template. You can get templates from Basic Templates for only 5 dollars.

NetShops gives you code, datafeeds and anything else you would need to set up a product-based affiliate site.

Buy a domain. less than $8
Host it somewhere. from 0 to $25 monthly (get what you pay..)
Put content on your domain. from 0 to whatever..
Join affiliateprograms 0
Apply for adsense or similar. 0
Advertise your site. from 0 to a lot

My company offers a free website with sign up and the fee is only $47-$50.
So yes it can be done with my company but also as the others have pointed out, it depends upon what you are planning to do. Certain products may cost more and so it may not be possible.
Best of Luck
AnnaLaura